ECON 7200 - Economic Principles (M)

North Terrace Campus - Trimester 1 - 2020

This is an introductory course in economics, which introduces students to the principles, concepts, data and analytical frameworks that economists use to understand the world around us. Students develop an understanding of how the economy works and how individuals, firms and governments make decisions and interact with one another in markets and other environments. The course also focuses on the ability of students to communicate about real-world issues and public policy debates through the lens of economics.

Open All

Course Details

Course Code	ECON 7200
Course	Economic Principles (M)
Coordinating Unit	Economics
Term	Trimester 1
Level	Postgraduate Coursework
Location/s	North Terrace Campus
Units	3
Contact	Up to 3 hours per week. More if offered intensively
Available for Study Abroad and Exchange	Y
Incompatible	Introductory Macroeconomics and Microeconomics
Restrictions	Not available to PGCW Economics Programs
Assessment	Typically assignments, case study analyses, group or individual projects, exam

Course Staff

Course Coordinator: Dr Mark Dodd

Course Timetable

The full timetable of all activities for this course can be accessed from Course Planner.

Course Learning Outcomes

On successful completion of this course, students will be able to:

Demonstrate a solid understanding of the core concepts and tools of economics.
Relate basic economic theory and principles to current economic issues and evaluate related public economic policies.
Apply economic principles and reasoning to solving business problems.
Interpret charts, graphs, and tables and use the information to make informed judgments.
Communicate their knowledge and understanding of economic issues using written, verbal and visual expression.
Critically reflect on the broader social consequences of economic decision making.

University Graduate Attributes

This course will provide students with an opportunity to develop the Graduate Attribute(s) specified below:

University Graduate Attribute	Course Learning Outcome(s)
Deep discipline knowledge informed and infused by cutting edge research, scaffolded throughout their program of studies acquired from personal interaction with research active educators, from year 1 accredited or validated against national or international standards (for relevant programs)	1,2,3
Critical thinking and problem solving steeped in research methods and rigor based on empirical evidence and the scientific approach to knowledge development demonstrated through appropriate and relevant assessment	2,3,4
Teamwork and communication skills developed from, with, and via the SGDE honed through assessment and practice throughout the program of studies encouraged and valued in all aspects of learning	5
Career and leadership readiness technology savvy professional and, where relevant, fully accredited forward thinking and well informed tested and validated by work based experiences	5
Intercultural and ethical competency adept at operating in other cultures comfortable with different nationalities and social contexts able to determine and contribute to desirable social outcomes demonstrated by study abroad or with an understanding of indigenous knowledges	2,3,6
Self-awareness and emotional intelligence a capacity for self-reflection and a willingness to engage in self-appraisal open to objective and constructive feedback from supervisors and peers able to negotiate difficult social situations, defuse conflict and engage positively in purposeful debate	2,3

Learning Resources

Required Resources

Hubbard, R.G., Garnett, A.M., Lewis, P., and O’Brien, A.P. 'Essentials of Economics' 4th Edition, Pearson.

Paperback edition ISBN: 9781488616983
Electronic versions are also available from the publisher.

Online Learning

This course makes use of MyUni for the posting of course materials, assessment tasks, and important announcements. It is expected that all students will regularly check the MyUni course website, and regularly check their university email accounts.

Learning & Teaching Modes

Each student is enrolled in one class session. These classes are three-hour long sessions (with breaks) that run each week for 12 weeks.

Students are advised to prepare the topic of each class prior to attending the session, through the textbook and other resources available in advance on MyUni.

Throughout each weekly class session, there will be a variety of teaching modes implemented. These will include lecture-style information delivery, practice exercises, and group discussions. Students will get the most out of these sessions if they prepare well in advance, and actively participate throughout the sessions.

Workload

The information below is provided as a guide to assist students in engaging appropriately with the course requirements.

The University expects full-time students to devote a total of 48 hours per week to their studies. This translates to 12 hours per week for this course.

Learning Activities Summary

Teaching & Learning Activities	Related Learning Outcomes
Lectures	1,2,3,4,5,6

Note: This schedule is subject to change.

Week	Topic	Textbook Reading
1	Introduction / Choices and Trade-offs	Chapters 1 & 2
2	Demand and Supply	Chapter 3
3	Elasticity / Economic Efficiency	Chapters 4 & 5
4	Government Intervention in the Market	Chapters 5 & 11
5	Firms, Production and Costs	Chapter 6
6	Perfect Competition and Monopoly	Chapters 7 & 8
7	Monopolistic Competition and Oligopoly	Chapter 9
8	GDP, Unemployment and Inflation	Chapters 13 & 14
9	Aggregate Demand and Aggregate Supply	Chapter 15
10	Money and Monetary Policy	Chapters 16 & 17
11	Fiscal Policy	Chapter 18
12	The Exchange Rate and International Trade	Chapters 19 & 20

The University's policy on Assessment for Coursework Programs is based on the following four principles:

Assessment must encourage and reinforce learning.
Assessment must enable robust and fair judgements about student performance.
Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
Assessment must maintain academic standards.

Assessment Summary

Assessment Task	Due Date / Week	Weighting	Length	Learning Outcomes
Weekly Assignments	Weekly	25%	1-2 Pages	1,2,3,4,5,6
Weekly Online Quizzes	Weekly	10%	5 Questions	1,2,3,4,5,6
Final Exam	Exam Period	65%	3 hours	1,2,3,4,5,6
Total		100%

Due to the current COVID-19 situation modified arrangements have been made to assessments to facilitate remote learning and teaching. Assessment details provided here reflect recent updates.

The examination will now be an examination submitted through MyUni rather than an invigilated examination. Further details will be provided in due course

Assessment Detail

Weekly Assignments 25%
Assignments will be due each week, and may contain a variety of formats including written responses and other activities. Details regarding the content, format, requirements and due dates for each assignment will be provided on MyUni, please refer there for further details.

Weekly Online Quizzes 10%
Multiple choice quizzes will be conducted online each week. See MyUni for further information regarding format, content, requirements and deadlines.

Final exam 65%
The final exam will be a 3-hour exam, plus 10 minutes reading time. This exam may assess all topics covered in the course. Details regarding the structure will be posted on MyUni. Please note that this is a closed book exam. Dictionaries of any type will not be allowed in the exam. Calculators will be allowed in the exam, but calculators that can store text, are programmable, or have wireless functions will not be permitted. This means graphics calculators are not permitted, and some particular scientific calculators may not be permitted.

Submission

Refer to MyUni for further instructions regarding submission.

Course Grading

Grades for your performance in this course will be awarded in accordance with the following scheme:

M10 (Coursework Mark Scheme)
Grade	Mark	Description
FNS		Fail No Submission
F	1-49	Fail
P	50-64	Pass
C	65-74	Credit
D	75-84	Distinction
HD	85-100	High Distinction
CN		Continuing
NFE		No Formal Examination
RP		Result Pending

Further details of the grades/results can be obtained from Examinations.

Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.

Final results for this course will be made available through Access Adelaide.

Student Feedback

The University places a high priority on approaches to learning and teaching that enhance the student experience. Feedback is sought from students in a variety of ways including on-going engagement with staff, the use of online discussion boards and the use of Student Experience of Learning and Teaching (SELT) surveys as well as GOS surveys and Program reviews.

SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the University to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy (http://www.adelaide.edu.au/policies/101/) course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.
Student Support
Policies & Guidelines
This section contains links to relevant assessment-related policies and guidelines - all university policies.
Fraud Awareness

Students are reminded that in order to maintain the academic integrity of all programs and courses, the university has a zero-tolerance approach to students offering money or significant value goods or services to any staff member who is involved in their teaching or assessment. Students offering lecturers or tutors or professional staff anything more than a small token of appreciation is totally unacceptable, in any circumstances. Staff members are obliged to report all such incidents to their supervisor/manager, who will refer them for action under the university's student’s disciplinary procedures.

The University of Adelaide is committed to regular reviews of the courses and programs it offers to students. The University of Adelaide therefore reserves the right to discontinue or vary programs and courses without notice. Please read the important information contained in the disclaimer.

Authorised by:	Deputy Vice-Chancellor and Vice-President (Academic)
Maintained by:	Course Outlines Administrator